It really is caustic soda (lye) that was in the hot tanks. Generally more concentrated than we work with. It will "eat" just about anything organic you can put in it; oil, grease, rubber, skin. Does well at dissolving aluminum, zinc and even titanium. It will even etch glass if left long enough. It doesn't attack copper much though (that would include brass, a copper alloy).
Lee's right about the radiator deposits. They mainly come from the water in the radiator - scale, rust, and sealants people put in (GM sells a sealant that is mainly walnut shell and tumeric. It works pretty well). And it is like the scale you see in household hot water pipes. That's one reason plain tap water, in an ideal world, shouldn't be used in the radiator, but everyone does it. The modern coolants have additives to help retard deposit formation. When radiators were still had brass tanks and copper cores (my 49 pickup does) and you could still solder them to repair, the hot tank would clean them right up, nice and shiny.
This really hasn't been possible anymore for automobiles since most radiators now have aluminum cores, plastic tanks and you repair them with a hot melt glue gun, if you can at all.
I was trying to find a nice Google link, but they all assume you are a chemist and not much use. Here's a snip listing some of the other uses for lye (caustic soda or sodium hydroxide).
Food uses of lye include washing or chemical peeling of fruits and vegetables, chocolate and cocoa processing, caramel color production, poultry scalding, soft drink processing, and thickening ice cream. Olives are often soaked in lye to soften them, while pretzels and German lye rolls are glazed with a lye solution before baking to make them crisp.
Lye is used to make the Scandinavian delicacy known as lutefisk (from lutfisk, "lye fish"). Hominy is dried maize (corn) kernels reconstituted by soaking in lye-water. Sodium hydroxide is also the chemical that causes gelling of egg whites in the production of Century eggs.
I know there's been some discussion about how hard it is to remove mineral oil coatings to reseason a pan, but I've never tried so I don't know if it would really resist the concentrated lye and heat. I suspect not. Cold and less concentrated, maybe it would be slow to dissolve.
Tom